expected changes in sri lankan consumer habits after … · 2020-06-15 · predicted to stay after...

EXPECTED CHANGES IN SRI LANKAN CONSUMER HABITS AFTER COVID-19

Survey Conducted by

Asia Pacific Institute of Digital Marketing (Pvt) Ltd

We invite you to read all the text content on this document alongside the graphical information in charts and infographics. Sometimes a graph must be interpreted in the context which is explained in the

commentary on each slide.

Introduction

Consumers across the globe have signaled a significant change in their usual consumption habits which may continue for a considerable time period even after the world moves beyond the impact of COVID – 19.

Asia Pacific Institute of Digital Marketing (APIDM) conducted the first ever public survey in order to understand how the COVID-19 crisis has forced a shift in consumer behavior in Sri Lanka and how likely these new behavioral trends are predicted to stay after the crisis, making a significant impact on consumer lifestyle.

This survey was conducted among 185 respondents in the Western Province. 65% Colombo, 28% Gampaha and 7% from Kalutara District. Data was collected between 18th May to 28th May 2020.

71% of the respondents was male, while 29% was female. 75% of the respondents was above 24 years of age.

61% of the respondents are employed in executive or above grades. 7% are business owners.

82%

63%

55%

55%

36%

28%

I will reduce unnecessary expenses

I will try to save more money in the future

I will think twice if a product is really needed before I buy it

I will try to earn more money in the future

I will be more price conscious when selecting products in the future

I will stock essential items for at least one month ahead

After the crisis when the country comes back to normal, what changes you intend to make in your shopping decisions?

Sri Lankan consumer intends to continue their price-conscious buying behavior even after the crisis. Three months of lock-down would have formed some strong opinions about the spending decisions of consumers. Marketers will face an uphill task re-convincing the value offering of their brands, to a market consists of mostly price-conscious buyers

APIDM Survey on Expected Sri Lankan Consumer Habits after COVID 19 Crisis - May 2020

How long do you believe that your personal finances will be affected due to COVID-19 even after recovering from the crisis?

12%

There will not be a

significant impact on

my finances

26%

33%

6 Months or More

21%

8%

2 – 3 months4 – 5 months

Just 1 month

56% of the people believe it will take more than 4 months for them to come back to normal financial status after the

crisis is over


Most Challenged Industries to Recover After the COVID 19 Crisis

We asked, “After the crisis when the country comes back to normal, for which goods and services will you REDUCE or completely cut your expenses?”.These are the significant industries topped the list as most vulnerable for reduced consumer interest.

0

20

40

60

80

Most Affected Industries

Electronics & Gadgets

39% of the consumers

will reduce their

expenses on home

electronics

Branded Clothing

66% consumers say they

will spend less on

branded clothing.

Beauty Care


will cut expenses on

beauty care products

Foreign Travel

66% of the consumers say

they will cut spends on

foreign travel

Leisure & Local Travel


will cut back on local

leisure activities and

travel

Restaurants


will reduce eating out

at restaurants


Least Challenged Industries by COVID 19 Crisis

We asked, “After the crisis when the country comes back to normal, for which goods and services will you REDUCE or completely cut your expenses?”.These are the industries who will not be significantly affected.In other words, these are the industries with opportunities.

0

20

40

Most Affected Industries

Higher Education (Self)

Only 9% of the consumers are

intending to cut expenses on

their own higher education

Home Improvements

28% consumers said

they will cut back on

home improvements

Children’s Education

Only 3% consumers are

expecting to reduce

expenses on children’s

educations.

Food & Beverages

Only 16% consumers will

reduce expenses on what

they eat and drink

Personal Care

13% of consumers

indicated they will cut

expenses on personal

care items

Essential Clothing

Only 3% consumers are

intending to cut

expenses here.


After the COVID-19 crisis, which activities do you intend to continue doing digitally?

70%

Work From Home

70% of the people believe WFH is

effective, and wanting to continue

even after the crisis.

66%

Remote Learning

66% of the respondents are

comfortable for taking eLearning

courses, as an effect of COVID 19

experience.

51%

Online Grocery Shopping

51% of the respondents found it a

convenient thing to do online

grocery shopping.


62%

54%

41%

32%

31%

30%

30%

Spending time with family

Using Social Media

Working to starting a side business

I will exercise more

Remote education

Reading books

What new habits will last longer after the COVID 19 crisis is over

We asked the question “How do you plan to spend your time mostly within the first 6 months of coming out of the COVID 19 crisis?” and gave them some of the activities most popularly done during the COVID 19 lock-down as options.These are the things mentioned by more than 30% of the respondents.In other words, these are expected to be lasting habits formed during the COVID 19 lock-down.

I will cook at home more


25%

22%

8%

5%

Gardening

Reading Newspapers Online

Watching TV

What new habits will die fast after the COVID 19 crisis is over

We asked the question “How do you plan to spend your time mostly within the first 6 months of coming out of the COVID 19 crisis?” and gave them some of the activities most popularly done during the COVID 19 lock-down as options.These are the things mentioned by less than 25% of the respondents.In other words, these habits will soon die among most people after we come out of the crisis.

Playing Video Games


69%

51%

43%

40%

38%

19%

Shopping more health consciously

Making more sustainable choices

Shopping more cost consciously

I buy local brands as much as possible

Shopping in closer neighborhood shops

I purchase the mostly trusted brands only

Priorities of consumers when shopping for goods and services after COVID 19 Crisis

Brand loyalty seems to be less of a priority for consumers while health consciousness has become a top priority.We’ve seen this trend on social media, of consumers wanting to make more environmentally friendly choices, and enthusiasm to support local (Sri Lankan) brands. Even in our data, the same trends are captured.


After the COVID-19 crisis, how would you plan to travel?

62% l intend to use my personal vehicle

to travel.

16%

14%

5%

3%

I intend to use an online app (Uber/Pick

Me/Kangaroo etc) to book a vehicle for my travelling.

I intend to use public transport

(train/bus) to travel.

I intend to rent a vehicle for next

few months.

Other options


About APIDM

Asia Pacific Institute of Digital Marketing (APIDM) is a leading institute in offering training and skills development programmes in the fields of Digital Marketing, eCommerce, Social Media Marketing and Business Analytics. Our mission is to upskill all the marketing professionals in

the region for the challenges of the digital age.

011-7 232 277/ 077 -2158855/ 077 -1775763

[email protected]

apidm.lk

No.291/33, (3rd Floor), Havelock Gardens, Havelock Road, Colombo-06

http://apidm.lk/

http://apidm.lk/

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expected changes in sri lankan consumer habits after … · 2020-06-15 · predicted to stay after...

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